Spire Wealth Management Purchases 8,363 Shares of MasTec, Inc. (NYSE:MTZ)

Spire Wealth Management raised its position in shares of MasTec, Inc. (NYSE:MTZ) by 4,181.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,563 shares of the construction company’s stock after purchasing an additional 8,363 shares during the quarter. Spire Wealth Management’s holdings in MasTec were worth $999,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Daymark Wealth Partners LLC boosted its stake in MasTec by 11.4% in the 1st quarter. Daymark Wealth Partners LLC now owns 4,731 shares of the construction company’s stock worth $552,000 after purchasing an additional 485 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of MasTec by 9.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 45,012 shares of the construction company’s stock worth $5,253,000 after acquiring an additional 4,031 shares in the last quarter. Ausbil Investment Management Ltd raised its holdings in shares of MasTec by 27.2% during the 1st quarter. Ausbil Investment Management Ltd now owns 5,246 shares of the construction company’s stock worth $612,000 after acquiring an additional 1,123 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MasTec by 37.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,410 shares of the construction company’s stock worth $1,915,000 after acquiring an additional 4,469 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in MasTec by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 7,213 shares of the construction company’s stock valued at $841,000 after buying an additional 190 shares during the period. 78.10% of the stock is currently owned by institutional investors.

MasTec Trading Up 1.0%

NYSE:MTZ opened at $172.28 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.22 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $13.59 billion, a price-to-earnings ratio of 63.34 and a beta of 1.75. The firm has a 50 day moving average of $151.61 and a 200 day moving average of $138.88. MasTec, Inc. has a 52 week low of $89.96 and a 52 week high of $172.71.

MasTec (NYSE:MTZ) last issued its quarterly earnings results on Thursday, May 1st. The construction company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.17. The business had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $2.71 billion. MasTec had a return on equity of 11.65% and a net margin of 1.72%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.13) earnings per share. As a group, sell-side analysts anticipate that MasTec, Inc. will post 3.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MTZ has been the topic of a number of recent analyst reports. Robert W. Baird reduced their target price on MasTec from $162.00 to $153.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Wall Street Zen raised MasTec from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 9th. Truist Financial increased their price target on MasTec from $154.00 to $184.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Jefferies Financial Group initiated coverage on MasTec in a research report on Friday, May 16th. They set a “buy” rating and a $188.00 price target on the stock. Finally, The Goldman Sachs Group raised MasTec from a “neutral” rating to a “buy” rating and increased their price target for the stock from $156.00 to $195.00 in a research report on Friday, June 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $166.75.

Insider Transactions at MasTec

In other news, Director C Robert Campbell sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $153.89, for a total value of $461,670.00. Following the completion of the transaction, the director now directly owns 39,782 shares in the company, valued at $6,122,051.98. This trade represents a 7.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 21.30% of the company’s stock.

MasTec Profile

MasTec, Inc, an infrastructure construction company, provides engineering, building, installation, maintenance, and upgrade services for communications, energy, utility, and other infrastructure primarily in the United States and Canada. It operates through five segments: Communications, Clean Energy and Infrastructure, Oil and Gas, Power Delivery, and Other.